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South Africa: Singapore Working Visit Successful and Fruitful
Source: www.sanews.gov.za
Source Date: Monday, December 12, 2016
Focus: Electronic and Mobile Government
Country: South Africa
Created: Dec 12, 2016

“The visit to Singapore provided the South African delegation led by Deputy President Ramaphosa with an excellent opportunity to learn from the Singaporean model of economic success and the role of state-owned enterprises in advancing economic growth and national developmental objectives of the country,” the Presidency said on Sunday.
The Deputy President and his delegation also used the visit to unlock future areas of trade and investment and to attract Singaporean State Owned Enterprises to invest in South Africa through the Public Private Partnership in line with the South Africa's Nine-Point Plan.
He also utilised the visit to secure a commitment of Singapore to assist South Africa with skills development and to increase the number of training courses for South African students offered under the Singapore Co-operation Programme.
During the working visit, Deputy President Ramaphosa paid a courtesy call on Singaporean President Tony Tan Keng Yam and held bilateral discussions with the Deputy Prime Minister Tharman Shunmugaratnam before attending a briefing session by the Singaporean Housing Development Board.
Bilateral trade between the two countries has grown significantly with Singapore being South Africa's second largest trading partner in the Asean Region.
By 2014 bilateral trade amounted to R28.9 billion as compared to R23.5 billion recorded in 2015. Exports in 2015 amounted to R6.8 billion while imports totalled R16.6 billion.
Ten South African companies with a total capital expenditure of R1.67 billion between 2003 and 2015.
These include Naspers, Computamaps and Investec. During this period a total of 987 jobs were created in the industry sector, hotels and tourism, financial services and ICT.
According to FDI market database four FDI projects from Singapore were recorded up to March 2016 with a capital expenditure amounting to R246.06 million creating 223 jobs.
Deputy President Ramaphosa was supported on the working visit to Singapore by International Relations and Co-operation Deputy Minister Nomaindia Mfeketo; Environmental Affairs Deputy Minister Barbara Thomson, Public Enterprises Deputy Minister Bulelani Magwanishe; Defence and Military Veterans Deputy Minister Kebby Maphatsoe; Economic Development Deputy Minister Madala Masuku, senior government officials and advisors.
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